With the upcoming release of data from Medtronic's HTN-OFF MED pivotal study on March 29, its U.S. renal denervation opportunity is "poised to make a significant comeback" following the failed HNT-3 pivotal trial in 2014, JPMorgan analyst Robbie Marcus tells investors in a research note. The analyst expects the readout to be positive, opening the door to an entirely new therapy for hypertensive patients and a multi-billion dollar "unpenetrated" global market opportunity. With a growing hypertensive population of nearly half of adults worldwide, over 40% of patients on medication still left uncontrolled, and the potential for future applications in treating other conditions, the renal denervation opportunity "represents a large and often underappreciated opportunity," says Marcus. He believes the opportunity is almost entirely left out of Medtronic's Street numbers and keeps an Overweight rating on the shares with a $128 price target.